What a Difference 8 Months Makes

Scrolling through pictures on my phone from about a year ago, I came across this stunning reminder of what a wild ride the last 13 months have been.

That evening, I literally paused the broadcast to take a picture of my TV screen. It was March 13, 2020. The headlines were catastrophic.

So, as we journey together down the path of investment prudence and discipline, please consider these Ten Timely Takeaways:

• Acknowledge emotions – they’re not right or wrong; they’re real.
• History’s lesson isn’t to avoid emotions, it’s to avoid emotional decisions.
• Media’s job is to sell your body parts [eyes, ears, brain] to the highest bidder – avoid the noise.
• Panic pays no premium
• Media stoking fear = time to double down on empathy & compassion with your clients.
• Repetition & consistency are discipline enhancers. timeless truths never expire.
• “This time it’s different” will, again, be the explanation next time it’s different.
• Markets tend to go up more than they go down, even after dramatic downturns.
• Discipline + patience > fear + worry
• Long term market returns only belong to unwavering participants in an unknowable future.

To think we’ve seen the last of scary headlines and hyper volatile markets would be nice. But that’s just wishful thinking. So, keep this list somewhere you can easily find it next time “the end of the world as we know it” is upon us.